Solar Panel Cost Guide in Homeland Park, SC (2024 Update)
- Homeland Park Solar Installation Cost: $19,401
- 25-Year Savings: $28,369
- Payback Period: 11.1 Years
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Average Cost of Solar Panels in Homeland Park
We break down average solar pricing in Homeland Park.
In Homeland Park, solar panels cost about 3 per watt on average.The average Homeland Park homeowner needs a 8.0-kilowatt system, which would cost about $19,401 with the federal tax credit, or $27,743 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of equipment you want to get, your solar contractor and more.Many homeowners find going solar is a solid investment. The average homeowner in Homeland Park can save about $21,000 on their power bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Homeland Park
| Year | Return on Investment |
|---|---|
| 1 years | $-17,916 |
| 3 years | $-14,945 |
| 5 years | $-11,975 |
| 7 years | $-9,004 |
| 9 years | $-6,034 |
| 11 years | $-3,063 |
| 13 years | $-93 |
| 15 years | $2,878 |
| 17 years | $5,848 |
| 19 years | $8,819 |
| 21 years | $11,790 |
| 23 years | $14,760 |
| 25 years | $17,731 |
Top Solar Installers in Homeland Park
Putting up solar panels yourself can be a stressful undertaking, which is why getting a solar installer is a good option for many homeowners. Local solar companies can also help you optimize your return on investment by walking you through any local incentives and by offering warranties and repairs.
Working with a professional solar company can make going solar easier. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Homeland Park
Factors that Affect Solar Panel Costs in Homeland Park
While the average cost of a solar system in Homeland Park is $19,401, your final cost may differ. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Homeland Park, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can gauge by looking at past electricity bills. Your overall cost can increase by around $3,450 for each additional kilowatt you need.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your power bills. Additionally, extra products, like solar batteries, can bump up your total well above the Homeland Park average.
Solar Financing Terms
Many homeowners find the average cost of solar in Homeland Park to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time because of interest.However, the interest on solar loans also adds to your total costs, so it’s crucial to take that into consideration as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Homeland Park, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.59 | $15,070 | $17,542 | 11.6 years |
| 8 kW | $3.52 | $19,706 | $23,775 | 11.3 years |
| 10 kW | $3.45 | $24,150 | $30,202 | 11.1 years |
| 12 kW | $3.38 | $28,400 | $36,822 | 10.9 years |
| 14 kW | $3.31 | $32,458 | $43,635 | 10.7 years |
| 16 kW | $3.24 | $36,322 | $50,642 | 10.4 years |
| 18 kW | $3.17 | $39,992 | $57,842 | 10.2 years |
| 20 kW | $3.11 | $43,470 | $65,234 | 10.0 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating your electrical system or roof.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Homeland Park, SC Solar Cost FAQs
What is the average cost of installing solar panels in Homeland Park?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $17,250 for a 5-kW system and $34,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Homeland Park?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Do solar panels increase your property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Homeland Park is currently $236,170, which means you can expect a value of about $9,683 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Homeland Park is a fruitful investment.
How long do solar panels last in Homeland Park?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.